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|Tuesday, January 10, 2012|
Nike plans to build a 600,000-square-foot campus in Shanghai, China.
The headquarters will be built at The Springs, Tishman Speyer's newest mixed-use development in Shanghai's Yangpu District. Nike's investment in developing this new centralized campus will support its long-term business growth strategy in China, where it celebrated 30 years of business in 2011. The Springs is Tishman Speyer's largest project in China and follows the development of previous successful commercial projects in Tianjin and Chengdu.
"This announcement is very exciting and a strategic investment in our continued growth in China," said Craig Cheek, VP & GM of Nike's Greater China geography. "This new campus headquarters will allow us to elevate and expand on our facilities and capabilities while bringing all of our Shanghai based employees together from our portfolio of NIKE, Inc. Brands into one central campus." In June 2011, Nike reported more than $2 billion in revenue for the first time for this geography and in its second quarter FY12 earnings reported on December 20, Nike reported a 35% increase in its revenue there.
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